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September 22, 2020

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Which cryptocurrency will explode in 2020?

Which cryptocurrency will prove to be the most lucrative investment in 2020? Choosing the right blockchain technologies to invest is challenging, particularly after the advent of so many different cryptocurrencies. Where does one begin as a novice investor?

In this article, we will walk you through industry trends and observations on the cryptocurrency that is projected to perform the best and enjoy steady growth for years to come.

Here’s everything you need to know:

Bitcoin: Increased Demand, Influenced & Stability

Bitcoin continues to maintain the benchmark standard, and it is a vital investment to boost your cryptocurrency portfolio. Today, cryptocurrencies are steadily penetrating the confines of Wall Street and becoming mainstream in the global arena. Given the reduced circulation supply of Bitcoin, limited to around 18 million coins, the value of Bitcoin is expected to increase dramatically.

The forces of demand and supply reveal that Bitcoin is scarce, and this scarcity is the driving factor behind value increments. Bitcoin continues to lead the cryptocurrency market, and at $121 billion, it’s market capitalization rate is far greater than that of Ethereum, the second-best cryptocurrency in the world.

More importantly, Bitcoin boasts the highest daily trading volume, with more than $40 billion worth of Bitcoins being traded on a daily basis. Experts believe that the global regulations on cryptocurrency trade and investments in the future are likely to transform the crypto community as we know it today.

Most of the fraudulent tokens and projects will be decimated, paving the way for increased demand and supply for stable cryptocurrency. Bitcoin enjoys an image of credibility and trust, and its popularity stems from its status as the first cryptocurrency ever created. The trustability associated with Bitcoin is another reason for its value to increase in 2020 and the years to come.

So, why should you invest in Bitcoin?

Experts observe that the technical patterns associated with Bitcoin look immensely lucrative, even though this cryptocurrency doesn’t boast any strong fundamentals. Bitcoin is the most popular cryptocurrency to invest in in 2020. In the next few months, it is expected to directly benefit from the accelerated demand growth and deaccelerated supply growth being observed throughout the global cryptocurrency market.

As we explore the dynamics of Bitcoin’s supply, we observe that the third halving has directly influenced the quantity of new bitcoins being released into the market, which has encouraged a slower supply growth. The dynamics of the demand for Bitcoin revealed that investors are likely to become increasingly interested in Bitcoin this year.

Demand is likely to soar as the halving has garnered immense attention from the public, high-profile investors, financial experts, and the media. As a novice investor, it is crucial to regard the demand for Bitcoin as the “gateway” into the market for cryptocurrencies. As more and more investors are preparing to get their feet wet in the cryptocurrency market, they are more likely to initiate their investments with Bitcoin, mostly because of the trust and credibility it enjoys in the market.

It is crucial to understand that Bitcoin is the most popular and widely used cryptocurrency in the market, and it has been crowned as the ‘king of cryptocurrencies.’ Bitcoin is expected to emerge as the globally-preferred digital cash that is fully decentralized and is not subjected to any kind of regulations.

More importantly, Bitcoin enjoys the highest liquidity in the cryptocurrency market, making it the safest and most lucrative cryptocurrency on the investment radar of novice and seasoned investors. Buying and selling Bitcoin is relatively easy as compared to other cryptocurrencies, and the potential for high ROIs is far greater.

Despite its volatility, Bitcoin continues to remain the most stable cryptocurrencies, and in the years to come, experts observe marked increases in the demand, mass adoption, and influence of Bitcoin.

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